>In the US you should look at the so-called free-banking era (1837–1864) or the crisis era (1782–1930). Btw. Free banking didn't mean no rules. It just meant th

>In the US you should look at the so-called free-banking era (1837–1864) or the crisis era (1782–1930). Btw. Free banking didn't mean no rules. It just meant that there was no charter or permission is needed to start a bank, >Finance was basically free for all. Easy to get in. Constant stream of economic recessions and banking crises harmed everyone. Wildcat banking increased incentives for risk-taking and fraud to high levels. It hindered economic growth, destroyed wealth of may hard working individuals. This is untrue; the US rate of growth was actually higher during this period (4%+) than it was during the 1900s. And there was way less wealth equality, as there was no central bank with the ability to transfer wealth from all currency holders to the banking and finance industry via printing money and the Cantillon effect.